United Natural Foods Announces CEO Succession Plan
September 28 2020 - 4:30PM
Business Wire
Steven L. Spinner to Retire as CEO July 31,
2021
Upon Appointment of Successor, Mr. Spinner will
Serve as Executive Chairman
United Natural Foods, Inc. (NYSE: UNFI) (the “Company” or
“UNFI”) today announced that Steven L. Spinner has informed the
Board of Directors of his intention to retire as Chief Executive
Officer after the conclusion of the term of his employment
agreement on July 31, 2021, or earlier upon the appointment of a
successor. Mr. Spinner has agreed to remain on the Board to serve
as Executive Chairman following his retirement as CEO.
In connection with Mr. Spinner’s upcoming retirement, the Board
has initiated a search to identify UNFI’s next CEO and, consistent
with good governance practices, has engaged a leading executive
search firm to assist in the process. The CEO search will include
both internal and external candidates.
Mr. Spinner stated, “It has been my honor to lead UNFI over
these past 12 years and a pleasure to have worked alongside our
exceptional associates. We serve an important mission of delivering
food to millions of people every single day. When reflecting on my
tenure as CEO, I’m most proud of our people and our culture, where
our shared beliefs drive everything we do. The future has never
been stronger for UNFI as our integration work is nearing
completion and we now look toward expansion of new services,
technologies, brands and our vast supply chain network. In close
collaboration with the Board, I decided now is the right time for
the Company to transition to its next leader. As we enter the next
chapter, I have great confidence in the strength of our team and
the opportunities ahead and look forward to my continued service as
Executive Chairman.”
Peter Roy, UNFI’s Lead Independent Director, said, “Over the
last 12 years, Steve has made many valuable contributions to UNFI,
including growing our customer base, adapting our business to the
demands of the digital marketplace, executing on value-enhancing
acquisitions and, most recently, fulfilling UNFI’s role as a
critical link in the North American food supply chain during an
unprecedented global pandemic. Throughout his tenure, Steve has
methodically and consistently led UNFI to new heights, increasing
annual sales from $3 billion to over $26 billion today. At the same
time, Steve has fostered a strong set of core values across the
Company, building and inspiring a talented team around him and
living UNFI’s commitment to serve our customers and the communities
in which we operate. The Board is conducting a comprehensive search
to identify the best candidate to serve as our next CEO, and we
look forward to continuing to benefit from Steve’s strategic
oversight and institutional knowledge as Executive Chairman.”
About United Natural Foods
UNFI is North America's premier food wholesaler delivering the
widest variety of products to customer locations throughout North
America including natural product superstores, independent
retailers, conventional supermarket chains, ecommerce retailers,
and food service customers. By providing this deeper 'full-store'
selection and compelling brands for every aisle, UNFI is uniquely
positioned to deliver great food, more choices, and fresh thinking
to customers everywhere. Today, UNFI is the largest grocery
distributor in America. To learn more about how UNFI is Feeding
America’s Retailers, visit www.unfi.com.
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INVESTOR CONTACT: Steve Bloomquist Vice President,
Investor Relations 952-828-4144 steve.j.bloomquist@unfi.com
MEDIA CONTACT: Jeff Swanson Vice President,
Communications & Media Relations 952-903-1645
jeffrey.s.swanson@unfi.com
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